Brass LNG: Reps Probe The Implentation Of The $22bn Project
The House of Representatives has resolved to probe the implementation of the $22 billion Brass Liquefied Natural Gas (LNG) Project.
The house said there had been several allegations of mismanagement of the Brass LNG take off fund, hence it said it would constitute an ad hoc panel to investigate the matter and report back within six weeks.
Sponsor of a motion on the matter, Kingsley Chinda (PDP, Rivers), told his colleagues that the state of affairs of Brass LNG was worrisome due to a number of allegations.
“There have been allegations of abuse and mismanagement of funds totalling $22bn meant for take off and running of the Brass LNG Project.
“The project was originally set up in 2003 with the Nigerian National Petroleum Corporation (NNPC) owning 49 per cent and other affiliates: Conoco Philips, ENI and Chevron holding 17 per cent each,” he said.
However, the project has been stuck in the planning stages for more than a decade, with some Western partners pulling out due to tough operating conditions and unfavourable investment environment, he said.
He said the Federal Government’s investment in the Brass LNG Project was too “enormous to be treated with kid gloves, swept under the carpet or simply put aside with a wave of the hand.”
The lawmaker added that unless the issue was investigated, the essence of the fight against corruption would be defeated and the Nigerian economy and the citizens would be worse for it. The motion was unanimously adopted by the lawmakers.